1220 High St, Portsmouth, VA 23704
For Lease
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This exceptional freestanding retail building, situated in the desirable Mid-City submarket, offers a single-tenant occupancy of 1,886 square feet. Constructed in 1983, the property boasts a single-story design, providing convenient and efficient use of space. The building is well-maintained and features recent upgrades, including a brand new HVAC system and energy-efficient LED lighting in the parking lot. The interior includes a spacious shop area conveniently equipped with a roll-up door, ideal for loading and unloading merchandise or providing easy access for customers. This property presents a fantastic opportunity for a variety of retail businesses seeking a high-visibility location in a thriving commercial area. Its single-tenant configuration offers simplicity and control, while the modern upgrades ensure efficient and cost-effective operation. The strategic location within the Mid-City submarket guarantees high foot traffic and excellent exposure to potential customers. This is an ideal investment for owner-occupiers or savvy investors seeking a stable and profitable retail property. The property's size and features make it suitable for a wide range of retail concepts, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
NMU · Portsmouth, VAPortsmouth. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.